ANNUAL REPORT FOR CITY OF MILBANK AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2019
ANNUAL REPORT FOR CITY OF MILBANK
AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2019
GOVERNMENTAL FUNDS-MODIFIED CASH Basis
General Third Penny Total
Fund Sales Tax Fund Governmental Funds
Beginning Balance 1,479,786.22 79,673.05 1,559,459.27
Revenues and Other Sources:
Taxes:
Property Taxes 800,682.14 800,682.14
General Sales and Use Taxes 2,993,210.62 124,435.43 3,117,646.05
Tax Deed Revenue 954.12 954.12
Penalties and Interest on Delinquent Taxes 1,819.50 1,819.50
Licenses and Permits 30,968.67 30,968.67
Intergovernmental Revenues:
Federal Grants 303,367.00 303,367.00
State Grants 19,040.50 19,040.50
State Shared Revenue 154,767.94 154,767.94
County Shared Revenue 7,664.55 7,664.55
Other Intergovernmental Revenue 88,446.08 88,446.08
Charges for Goods and Services:
General Government 3,866.85 3,866.85
Public Safety 8,301.00 8,301.00
Sanitation 26,263.56 26,263.56
Culture and Recreation 12,494.00 12,494.00
Cemetery 18,000.00 18,000.00
Other 51,899.24 51,899.24
Fines and Forfeits:
Court Fines and Forfeits 187.41 187.41
Animal Control Fines 514.00 5148.00
Other 1,552.48 1,552.48
Miscellaneous Revenue and Other Sources:
Investment Earnings 8,916.40 330.05 9,246.45
Rentals 3,550.00 3,550.00
Special Assessments 1,393.82 1,393.82
Contributions and Donations
from Private Sources 3,550.00 3,550.00
Other Revenues 36,301.31 36,301.31
Sale of Municipal Property 652.00 652.00
Compensation for Loss or Damage to
Capital Assets 3,185.48 3,185.48
Total Revenue and Other Sources 4,581,548.27 124,765.48 4,706,313.75
Expenditures and Other Uses:
Legislative 44,397.22 44,397.22
Elections 14.63 14.63
Financial Administration 346,392.39 346,392.39
Police 537,923.26 537,923.26
Fire 107,578.67 107,578.67
Highways and Streets 537,621.34 537,621.34
Sanitation 55,633.98 55,633.98
Airport 24,817.26 24,817.26
Parks 241,478.23 241,478.23
Economic Development and Assistance 121,739.08 121,739.08
Debt Service 209,640.00 209,640.00
Capital Outlay 2,915,454.55 2,915,454.55
Total Expenditures and Other Uses 5,020,951.53 121,739.08 5,142,690.61
Increase/Decrease in Fund Balance (439,403.26) 3,026.40 (438,376.86)
Ending Balance:
Restricted 212,328.00 82,699.45 295,027.45
Unassigned 828,054.96 828,054.96
Total Ending Fund Balance 1,040,382.96 82,699.45 1,123,082.41
Government Long-term Debt 2,025,000.00
PROPRIETARY FUNDS-MODIFIED CASH Basis
Water Fund Sewer Fund
Beginning Balance 592,616.38 512,429.68
Revenues 626,121.49 763,834.36
Expenses 490,544.61 858,099.47
Ending Balance:
Restricted for:
Revenue Bond Debt Service 265,195.70 0.00
Unrestricted 432,954.68 388,581.42
Enterprise Long-term Debt
The preceding financial data does not include fiduciary funds or component units. Information pertaining to those activities may be obtained by contacting the municipal finance officer at 432-9575.
Municipal funds are deposited as follows:
Depository Amount
First Bank & Trust-Checking $5,000.00
First Bank & Trust-Savings $2,042,036.21
First Bank & Trust-CD $212,328.00
